An apparatus for separating a downhole tubular string into two parts. The apparatus includes a receptacle operably associated with a first part of the downhole tubular string and a mandrel operably associated with a second part of the downhole tubular string. First and second sleeves each having a profile are slidably positioned between the receptacle and the mandrel and are operable to be securably coupled to the mandrel in first and second positions relative to the mandrel. First and second rings are respectively positioned between the profiles of the first and second sleeves and the profiled surface of the receptacle. The first and second rings are operable to initially limit longitudinal movement of the receptacle relative to the mandrel, to prevent tubular string recoil during operation and to allow longitudinal movement of the receptacle relative to the mandrel after operation.